TDS rate for Financial year 2021-22 or AY 2022-23

  TDS rate for Financial Year 2021-22 or AY 2022-23

Tax Deduction at Source is a major  source of  tax collection to Central Government. TDS also help to  reduce  Income Tax avoidation because TDS collcet at original of income.

TDS deducted as per TDS provision of Income Tax Act, 1961  based on  payment limit of income after exceed the precribed limit of payment.

Example:

If an person   need to pay interest on sectrities Rs.50,000. TDS rate for such payment is 10% if exceed the payment Rs.2500. So as per TDS provsion need to deducted TDS Rs 5000 ( 10% of Rs.50,000) . After deducteion TDS Rs5,000 balance amount  Rs.45,000 need to pay and TDS amount need to pay Central Government of India through TDS challan no. 281.

If a person  does not have PAN than TDS rate will be applicable 20% for all payment except following

Salary payment 30%

Investment fund paying an income to a unit holder 30%

Income in respectof investment made in a securitization trust 30%

 

TDS rate for financial year 2021-22n or AY 2022-23 re given below in the TDS rate chart.

Section Payment Threshold Limit  TDS Rate

Individual

TDS rate Company
192  Salary  Computation income  tax  on the slab rate for yearly total salary would be paid. Average rate  NA
192 A  Withdrawal from Employee Provident Fund as premature Rs.50,000 10 NA
193 Interest on Securities  Rs. 2500 10 10
194 Dividend other than the dividend as referred to section 115-O  Rs. 5000 10 10
 194-A  Interest from Bank deposit ( fixed or recurring deposit)

Or co –op banks.

(other than interest on securities section 193

 Rs.40,000

Incase Senior Citizen Rs.50,000

10 10
194-B  Income from lotteries, crossword puzzles, card,games and other games of any sort.  Rs.10000 30 30
194-BB  Income from horse races winnings  Rs,10000 30 30
194-C  Contractors

 

 

 

 

Transporter ,other than covered under section 44AE

 

Single payment Rs. 30000

Aggregate payment Rs 100000

 

Single payment Rs. 30000

Aggregate payment Rs 75000

 

1

 

 

 

 

 

1

2

 

 

 

 

 

2

 

194-D  Insurance commission  Rs.15000 5 10
194-DA Payment of life insurance policy the tax shall be deducted on the amount of income comprised in insurance pay-out Rs.10000 5 5
194-E Payment  to non-resident sportsmen /sports association  Any amount 20 20
194-EE  Payment  in respect of deposit under National Saving- scheme  Rs 25000 10 10
194-EE  Payment on account of repurchase of unit by Mutual Fund or Unit Trust of India  Any amount 20 20
194-G Commission on sale of lottery tickets  Rs.15000 5 5
194-H Commission or brokerage Rs.15000 5 5
 194-I  Rent

Plant and Machinery

 

 

Land and Building

 Rs.2,40,000

 

 

 

Rs. 2,40,000

2

 

 

 

10

2

 

 

 

10

194-IA  Transfer of certain immovable property other than agriculture  Rs.5,00,000 1 1
194-IB Payment of Rent by Individual or HUF not liable for Tax Audit.  Rs.50000 per month 5  NA
 194-IC  Payment of monetary consideration under joint Development Agreement. Any amount 10 10
 194-J  Fee for professional or technical service  If receipt is engaged in business of operation of call Centre

If if sum is payable towards fees for technical service( other than professional services)

Rs.30,000

 

 

 

Other cases Rs. 30,000

 

2

 

 

 

 

 

 

 

 

 

 

 

 

10

2

 

 

 

 

 

 

 

 

 

 

 

 

10

 

194-K Payment of any income in respect of Units of Mutual  fund as per section 10( 23D) or Units of administrator or from a specified company.   Amy amount 10 10
194-LA  TDS on compensation for compulsory acquisition of immovable Property Rs.2,50,000 10 10
194 LBA  Business trust shall deduct tax while distributing , any interest received or receivable by it from a spv or nay income received from renting or leasing or letting out any real estate asset owned directly by it to its unit holder   10 10
194-LB Payment of Interest on Infrastructure debt fund to Non resident   5 5
194-LBB  Investment fund paying an income to a unit holder ( other   10 10
194-LBC  Income in respect of Investment made in a securitization trust   25 10
194-M  Payment of commission ,brokerage, contractual fee, professional fee to a resident person by and individual or a HUF

 

 

who are not liable to deduct TDS under section 194C,194H,or 194J

 Rs.50,00,000 5 5
 

 

194-N

 

 

Cash withdrawal

If a person defaults in filing of return : 20laks

If no default is made in filing of return:  Rs.1,00,00,000

 If withdrawal exceed Rs. 1,00,00,000

 

 

 

 

 

 

2 or 5 2 or 5
 194-O  Applicable for e- Commerce operator for sale of goods or provision of service facilitated by it through its digital or electronic facility or platform Rs.5,00,000 1 1
194-Q  Purchase of goods ( applicable w.e.f 01.07.2021 Rs.50,00,000 0.10 0.10
195  Payment of any other sum to a Non-resident      
194-P  TDS on senior citizen above 75 Year      
206-AB  TDS on non- filers of ITR      

 

You can  pay TDS payment online

 

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